New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-16
CLOSING PRICES OF CALIFORNIA SToORS
SAN FRANCISCO, Feb. Is, 1887
TUESDAY, Feb. 15-P. VI.

TUESDAY, Feb 10-P VI.
For stock speculative purposes probable export OF
gold limited amount aud the large expansion of bank
loans during the last weeks the only two cards
left used for depressing values As to gold exports
II do not make some shipments during tho coming
spring months II will 10 almost unprecedented sea-
son, and Will be because Europe is largo buyer
In this market Of American securites-not To cover
its 1" shorts" but to take the certificates away.
An export of gold In the spring months Is
a movement natural the seasons, although the
years OF 1881 and 1883 exceptional in that respect
Outside Of purposes gold has except TO settle
balances between individuals and nations. In 1856 from
January June 80 the exports OF gold amounted to
$34 1000 than the Imports from July to De-
cember 81 the imports amounted TO S3f-sOo,o0O moro
the cxpors giving the net imports for the year OF
$500 900. year ago Europe was a large speculative
holder of American securies it Is conceded that 1t
has sold s speculative holdings and That the certificates
have arrived and have been RENTED for Is certain
that the merchandise for last month january
will return balance OF from 1000 10 $l3OOoOO0
orabc TO the United States than that OF January
1885, and there TO believe that the present
month of February will make a comparison equally
favorable With these facts before him the ordinary
reader to conclusion AZ TO the extent OF gold
exports this spring valuable as the opinion OF any
banker AS TO the bank expansions some writer's seem 10
think that the associated banks Of NewYork loan no
money except stock brokers and stock operators ana
all gone into specuatons IL Ia needless to say
market has failed to reflect any such use
OF money In that direction and II it seemed TO do so an
analysis of the distribution amongst the bahks
of the $40 100000 expansion would dspel the idea
The changes in tho loans OF the several
banks from the statement OF January 20 AMI
that Of yesterday where they amounted TO over
100000. were follows: Expansons-Am
81 800 zoos Republic. sl.03o.00o Fourth, 100000
American Exchange. $06o0Oo Park. $s5o'00o; Mer-
500 OO0 Chase 100000; Importers ana Trad
ers' 5000 900; Chemical. S3s00O0; First, 100000;
New-York 300 600; City. S3s00Oo; Commerce. $3.50,
600; Broadway S3s0O0o; Corn Exchange, 1870 900 :;
Hanover $4,000; State $3.50 900; Lincoln. s30oOOO
Merchants 100000; Nassau. S220,oo0; Galatin.
100000; Ninth. $4,000; Mechanics, $4,000; Bow
cry $4,000; Tradesmen's. 100000; Butchers and
Drovers 81 900; New-York Exchange $4,000; and
Market, $4,000 observation-disclosures Exchange
$4,000 Shoe and Leather Sls0,o00; Central Sl20Oo0
Manhattan. $4,000; Chatham $4,000 and Third
$4,000 One writer this morning goes so FAR "a to
press curiosity know where the borrowers OF this
Sl2 900 600 will get the money from TO repay the loans
after gold shipments begin just as II the borrowers had
sunk the whole 81 In the The fact Is that
ate the expansion OF 81 900 loans the banks held
last Saturday only 81 200 900 less cash than they held
January %.
The days stock speculation again dull and the tran
sactons amounted only 10 100000 shares against
steady and wh less dcpression. where there any,
than reasonable to expect after yesterdays iatc
manipulations. Quotations remained steady and bust
ncss very dull unIl there sudden appearance OF
pressure sell three four OF the prominent stocks aud
noticeable among them the pressure on Union Pa
cifc As this occurred just after The hour when London
arbtrage brokers had closed their books for the day ~ al
first was supposed he CONTINUATION OF yesterdays
bear" raids The sudden decline IN those few stocks
affected the quotations for tho whole list because The
room.tradcrs Immediately became sellers OF the
general market The sequel however developed Tie fact
that The pressure came from an order 20 sell hong
stocks IL that Foster Dewey. only short time
before his death this forenoon sent down an order to BIS
brokers 10 close ont AL his speculative HOLDINGS Of seoul
ties which are reported TO have amounted 10 l2Oooa
rs 600 shares OF stocks. Under this pressure Cnion
Pacific declined 10 So Lake Shore 10 81. Reading 10 81
and st Paul to 81 Subsequently the market made
good which left some stocks higher tan yes
ferday's closing some unchanged. ana majority only
small fractions lower The short" interest was mater
aIv by The operations OF the day aud the mar
ket closed strong at the figures
Government bonds dull and easy with the bids Tor
the As of Il per cent Annexed are the closing quota
tons